Arthur J. Gallagher & Co. — Director's Dealing 2014

Mar 7, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2014-03-05

Reporting Person: GALLAGHER THOMAS JOSEPH (VICE PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-05	Common Stock	M	1502	$33.28	Acquired	125368	Direct
2014-03-05	Common Stock	M	20000	$29.42	Acquired	145368	Direct
2014-03-05	Common Stock	S	21502	$46.70	Disposed	123866	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-05	Non-qualified Stock Option	$33.28	M	1502	Disposed	2014-04-01	Common Stock (1502)	Direct
2014-03-05	Non-qualified Stock Option	$29.42	M	20000	Disposed	2014-07-22	Common Stock (20000)	Direct

Footnotes

F1: The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $46.61 to $46.85. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: The stock option becomes exercisable 10% each year, commencing January 1 after the date of grant.